MARKET UPDATE: February 2012

March 12, 2012

RMLS of Portland Market Action Report February 2012

February Residential Highlights“While there were fewer active and new listings on the market, sales activity in Metro Portland showed an improvement in both pending and closed sales in February 2012. Also notable in February was a decrease in inventory, down from 7.0 last month and the lowest February inventory since 2007. Closed Sales were up 17.5% in February 2012 compared to February 2011. Pending sales grew 32.5%, and new listings dropped 13.6%. Comparing the previous month of January 2012 with February 2012, closed sales grew from 1,224 to 1,262 (3.1%). Pending sales also increased from 1,823 to 2,109 (15.7%). New listings dropped from 2,613 to 2,492 (-4.6%).”Sale Prices
“Average sale price for February 2012 rose 4.3% compared to February 2011. Median sale price fell 1.3%. Month to month, comparing January 2012 to February 2012, average sale price went up from $249,100 to $255,100 (2.4%) and the median sale price rose from $207,500 to $211,000 (1.7%).”

To view the full RMLS Market Action Report For February 2012 – Click Here

If you’d like to find out more about the Portland real estate market on market conditions in your neighborhood please contact me at 503.477.0759 or browse my website at www.RuthPriceProperties.comThank you for visiting – Ruth Price